Marketplace
Every weekday, host Kai Ryssdal helps you make sense of the day's business and economic news — no econ degree or finance background required. "Marketplace" takes you beyond the numbers, bringing you context. Our team of reporters all over the world speak with CEOs, policymakers and regular people just trying to get by.
Episodes
A year later, is Trump’s investment in Intel… a win-win?
Intel’s sales jumped by 25% last quarter, the largest increase in over a decade — making the U.S. government’s stake in the company around $40 billion after the administration invested last year. In this episode: Was Trump’s Intel deal a win-win? Plus: Why Gen Z’s not drinking regular soda, rates on business loans might climb, and a 63-year-old pivoted to statue restoration after a career
Unemployment filings hit a 55-year low
Sounds rosy, right? Not if you’re long-term unemployed, underemployed, or a new grad. In this episode, the labor market’s low-hire, low-fire status quo reaches a new extreme. Plus: States sue over new Medicaid work requirement protocols, Uber lays off a tenth of its customer service workers with plans to replace them with AI chatbots, and a family travel boom reshapes luxury resorts.Every
What's driving up the 30-year Treasury yield?
The yield on a 30-year Treasury bond has been hovering above 5% for a couple weeks — the longest stretch since the Great Recession. One reason is Treasury bonds are competing with Big Tech debt. We’ll explain, with help from one reporter’s shady gym membership deal. Also in this episode: AT&T attributes strong earnings to service bundles, a customs broker updates us on shipping logist
What Anthropic's copyright settlement means
Anthropic settled a copyright case Monday, agreeing to pay out $1.5 billion to authors whose material had been scraped to train its AI chatbot. It comes out to roughly $3,000 per work used after legal fees and other costs. But the outcome isn’t as decisive as it seems. In this episode, what Anthropic’s decision to settle means for future AI copyright cases. Plus: What we lose when we rely
The four dollar threshold
Blink and you’d miss it — gas prices cooled earlier this summer as the Iran war reached a ceasefire, but the national average is back up to $4 a gallon, according to AAA. In this episode, will U.S.-Iran negotiations drive fuel prices even higher? Plus: Starter home supply eases in some parts of the country, regional bank earnings reveal what’s going on in the consumer economy, and Kai dis
Will Chevron-Iraq deal solve oil woes?
The short answer is no, the Chevron-Iraq deal won’t solve the problem. So why did the U.S.-based energy company sign a vague, preliminary deal to negotiate a pipeline that circumvents the Strait of Hormuz? It’s another sign that energy firms expect the war with Iran to drag on. Also in this episode: Talent managers represent more social media influencers as sponsored content spending grow
Businesses brace for tariff déjà vu
The White House has proposed new tariffs on 60 countries that allegedly aren’t doing enough to ban forced labor. Domestic businesses, already burned from last year’s trade war, are bracing for more hurt. In this episode, companies weigh early orders against rising costs. Plus: Recent positive inflation data could convince the Fed to hold interest rates steady, Kroger buys Giant Eagle in o
The U.S. has the steepest inflation in the G7
Though the latest inflation reports show price growth cooled a bit in June, U.S. inflation remains higher than its peer nations, which include the U.K., Canada, France, and Japan. President Trump’s tariffs are partially to blame. But so is hefty capital expenditure by AI giants. Can anything counterbalance all that spending? After that: Kai explains the utility of Beige Book “soft” data,
Inflation came down in June. Will it stay that way?
We got a better-than-expected June CPI report: Inflation slowed in both the goods and services sectors. But it’s hard to say whether that trend will continue and how it might affect the Fed’s next inflation rate decision. Also in this episode, Fed Chair Kevin Warsh testifies before Congress, so we break down his approach to central bank communication and the Humphrey-Hawkins Act. Plus, an
Big banks fare well in this rocky economy
Five major banks report earnings Tuesday morning, and analysts expect them to be rosy. Despite a volatile energy market and uncertain geopolitical climate, U.S. banks are turning strong profits. They’ve got AI investment and a booming stock market to thank. Plus, the inflation beat: Steep producer inflation could soon show up in consumer prices, economists aren’t sure how long overall inf
The other war affecting fuel prices
Energy prices are up, and we’ve got a war to thank. Two wars, actually. While all eyes have been on Trump’s on-again, off-again conflict with Iran, Ukraine has ramped up attacks on Russian oil refineries — and the effects are rippling through the global energy market. Also in this episode: Data centers ease electricity bills in some places (for now), travelers turn to buses as airfares ri
Return to war could fuel inflation
Inflation that resulted from the U.S. war with Iran had just begun to cool when President Trump called off a shaky ceasefire. Now, as the world turns their attention back to conflict in the Middle East, economists turn their attention to the Federal Reserve. Will the central bank act to tamp down a second round of inflation? Also in this episode, PepsiCo sees tempered sales in North Ameri
Gas prices are headed back up
President Trump called off the a ceasefire with Iran Wednesday morning, sending the U.S. back into a military conflict — and sending oil prices back up after weeks of steady cooling. In this episode, Kai calls up economist Robin Brooks at Brookings to explain how a reignited war will affect global oil markets and prices at the pump. Plus: Retailers stock up early for the 2026 holiday seas
Despite stellar earnings, Samsung's stock slumps
Samsung just reported a whopping 1,800% profit increase for the second quarter of this year. But its stock price fell nearly 7% in response to the news. What gives? In short, high expectations got in the way of actual growth. Also in this episode: Baby boomers begin to transfer family businesses to the next generation, buy now, pay later giant Klarna applies for a U.S. banking license, an
Back-to-school shopping? Already?
U.S. families expect to spend more than $900 on back-to-school shopping this year, according to one PwC survey. Big box retailers have taken advantage of anxiety about higher costs by pushing school supplies earlier than ever. In this episode, how consumer mood correlates to consumer spending. Plus: Holiday weekend heat strains electric grids, Boeing and Airbus aircraft demand persists, a
Trading up to an AI-proof career
Careers in the trades — a path that’s largely more AI-proof, less expensive, and more dependable — are attracting more attention. We visit Hope Renovations, a program in North Carolina focused on getting more women and non-binary people into the trades. Also, we look at a decline in the labor force participation rate, country stores in New England, and a tailoring business in Utah.Every s
An underwhelming June jobs report
The Labor Department’s June jobs report came in with just 57,000 new jobs added. Economists expected double that, and while the unemployment rate ticked down, we consider why job growth may be middling. Also in this episode, we look at stagnant wage growth, a start-up that’s looking to de-extinct the woolly mammoth, the “lump of labor” fallacy, Saudi Aramco’s World Cup sponsorship, and a
What would make Kevin Warsh consider a "Fed put?"
It’s unclear what Federal Reserve Chair Kevin Warsh will do regarding interest rates, but would a “Fed put” actually help promote stability in financial markets? Also in this episode, we look at why fewer teens are getting paid jobs, a decline in single-family homebuilding, prediction markets for natural disasters, traffic expanding way beyond rush hour, and the booming cowboy boot market
A confusing economy means a less confident consumer
Fresh data on consumer confidence shows a lot of mixed signals — Americans are feeling better about the economy and where inflation is headed, but worse about job prospects and family finances. Also in this episode, we look at the widening gender wage gap, a small business owner dealing with tariffs, how remote work is giving families more options, and growing natural gas infrastructure.E
The president's new power over independent agencies
The Supreme Court’s ruling Monday expanded presidential power over agencies that would traditionally be viewed as independent, with the Federal Reserve as an exception. What does that mean going forward? Also in this episode, we look at rising transportation costs, infrastructure projects, Comcast’s spinoff of NBCUniversal, and the business of estate sales in Los Angeles.Every story has a
The AI inflation roller coaster
Economists are forecasting that AI is likely to cause prices to rise over the course of the next year. On Thursday, both Microsoft and Apple said they’re raising prices some of their flagship products thanks to skyrocketing memory and storage costs. But AI could end up making a whole lot of things cheaper — eventually. Also in this episode: how one union negotiated huge savings on healthc
Inflation sped up in May. What's to blame?
Inflation was up 4.1% in May, according to the BEA’s personal consumption expenditures index. We know hot energy prices, resulting from the war in Iran, were part of that spike. But cut out energy and food, and inflation still hit a three-year high, at 3.4%. So what else is driving the increase? Also in this episode: Q1 GDP is revised up, Wyoming navigates the consequences of property tax
High inflation or ... high inflation?
When the U.S. launched a war against Iran, some Wall Street traders bet the ensuing energy shortages would push inflation up. Now that a ceasefire has brought down gas prices, the narrative has shifted: What if cheaper gas fires up the economy too much? In this episode, the markets are betting on inflation, whichever way you slice it. Plus: Prospective buyers struggle to secure mortgages
A "starter" home for $1 million?
A typical starter home in nearly 250 U.S. cities is now worth $1 million or more, according to Zillow. Is that even a starter home anymore? In this episode, how rapid housing inflation has changed the game for first-time homebuyers and why more Americans are opting for a starter home in the suburbs. Plus: Manufacturing data reflects strong sector growth, U.S. trading partners bear the eco
Inflation is moving the wrong way
The last time Austan Goolsbee voted in an FOMC meeting, he was one of two policymakers opposed to cutting interest rates. Six months later, he doesn’t regret that dissent. In this episode, Kai catches up with the Chicago Fed president to discuss the central bank’s communication style, persistent inflation concerns, and former Fed Chair Alan Greenspan’s legacy. Plus: Beef prices are likely
What's with the uptick in homebuilder incentives?
As high interest rates tamp down homebuying demand, more homebuilders are offering free appliances or upgraded hardware to sweeten the deal. Throwing in a free dishwasher is one thing, but how are they able to offer lower mortgage interest rates? In this episode, we check on the homebuilding sector. Plus: Hotel housekeepers say AI-driven app makes work more difficult, scientists design su
Warsh wants to keep markets guessing. Will it work?
Kevin Warsh held his first press conference as Fed chair on Wednesday, and — unlike his precedessor — did not say what the central bank plans to do next. Despite his tight lips, markets read between the lines and predict a rate hike is coming soon. In this episode, why Warsh is rewriting the Fed’s communication style, and how it could alter the economy. Plus: Jobless claims tick down a bi
When the going gets tough, just keep spending
Retail sales were up 0.9% in May, which is a generally positive economic sign. But it doesn’t square with our reality, in which price inflation outpaces wage growth. That is, until you look at that pesky personal savings rate. In this episode, YOLO consumers in a grim economy. Plus: Fed Chair Warsh holds rates steady, the rate of new households is falling, and what would happen if the U.S
AI corporate bonds are booming
Nvidia just joined the likes of Amazon and Alphabet in selling off billions of dollars in bonds. What do these tech giants need help financing? Data centers, of course, to support the buildout of artificial intelligence infrastructure. For now, the cash is flowing, but when will these firms need to show some returns on those investments? Also in this episode: Commercial solar energy proje
Nuclear power payment plan
Nuclear energy can lower one cost that has seen rapid inflation in recent years: electricity bills. But nuclear power plants aren’t cheap to build. In one state, legislators wade into a debate over whether taxpayers or utility companies should shoulder the burden. Also in this episode: Kevin Warsh faces war-driven inflation ahead of his first FOMC meeting as Fed chair, MAHA movement drive
From "How We Survive": How to Dim the Sun
Today, we’re featuring an episode from the new season of “How We Survive.” Could dimming the sun be the key to cooling things down before the climate crisis worsens? Some scientists say yes, that we can cool the earth by launching tons of sulfur dioxide into the stratosphere. It’s a type of solar geoengineering that was once seen as preposterous, meant to exist only in the pages of a sci-
The SpaceX share lock-up period, explained
SpaceX went public Friday, with much pomp and circumstance. Investors are already buying and selling the company’s stock — well, some investors. Employees, early investors, and Elon Musk all held SpaceX stock pre-IPO. Now, the company will supervise when and how they can sell it off. In this episode, we explain why. Plus: An unlikely city tops list of best metro areas for recent college g
Gas prices will probably go up this summer
Hate to be the bearer of bad news, but all three economists we asked say gas prices are due for another hike this summer. The war in Iran continues to drain oil reserves in the U.S. and abroad, and eventually prices will have to match growing supply-demand tension. (Yes, that’s even if the war ends today.) Also in this episode: Bond investors expect inflation to stick around for a while,
May CPI: glass half-empty, glass half-full
The May CPI report dropped Wednesday and it’s a doozy: Inflation rose 4.2% over the last 12 months. This means wallet pressure is bearing down on consumers, as wage growth lags behind price growth. On the other hand, the CPI report includes signals that inflation may have reached its peak. In this episode, an optimist’s and pessimist’s reading of the latest inflation data. Plus: Slowing i
Why did BoA tell investors to "take profits"?
Bank of America advised investors late last week that too many red flags pointed to a market peak, and that it was time to “take profits.” In plain English? The stock market could see a downward turn soon, so it may be time to sell. In this episode, why tell investors to sell? Plus: Ongoing war in Iran strengthens oil and gas outlooks, we check in on foreign trade zones operating under ne
Fed eyes sluggish wage growth
Averages wages grew 3.4% year over year, but at the same time, inflation as measured by the consumer price index, has been eating away at those gains. Workers don’t want to lose purchasing power — rising inflation will feel like a pay cut — but the Fed may see things a bit differently. Plus: Home cooks are a bright spot in Campbell’s soup sales, the owner of Vimeo, AOL, and WeTransfer fil
It's not just you — healthcare deductibles are ballooning
Growing health insurance premiums, particularly for plans on the Affordable Care Act marketplace, have been in the headlines as cuts to Medicaid roll out nationwide. But healthcare deductibles are also growing — and with them, the group of Americans who have insurance but can’t afford to use it. Also in this episode: The hospitality industry adds jobs in May, a jeweler in California mines
U.S. oil inventories fall to a 22-year low
Oil inventories have fallen drastically since President Trump launched the war against Iran. But it’s not because we’re suddenly using more fuel. Instead, the U.S. is exporting much more oil than usual — to places that can’t get enough with the Strait of Hormuz blocked. All this will have knock-on effects for oil prices in the U.S. for months to come. Plus: Investors want to yank more mon
Small businesses (finally) get to hiring
For a while now, we’ve talked to small business owners who say they want to hire more employees, but aren’t in a financial position to do it, can’t find qualified applicants, or are too concerned about the economy to make the jump. But two new reports show small business hiring picked up this spring. In this episode, whether that’s a blip or the start of a positive trend. Plus: An AI pres
What happens when we lose healthcare coverage
Massive Medicaid cuts, including new work requirements, are rolling out across the country. Trouble filing paperwork will be one reason qualifying Americans lose their coverage. In this episode, what history tells us about cutting Medicaid funding. Plus: Personal incomes are falling, consumers are prioritizing value over luxury, and we explain incoming Fed Chair Kevin Warsh’s preferred in
What's sector growth without job growth?
Manufacturing production, new orders, imports, and exports were all up in May, according to the latest PMI report. The only piece of the manufacturing business that didn’t grow was the labor force — payrolls contracted for the 32nd month in a row. In this episode, how much can a sector grow without hiring more humans? Plus: Dollar stores dip into delivery, college campuses turn into robot
The hourly vs. salary wage gap
Hourly wages went up 1.7% over the past year, according to Indeed Hiring Lab. Salaried wages went up 2.9%, reversing a 2022 trend in which hourly raises outpaced salary raises. Still, there’s one thing all workers have in common: Neither group kept pace with inflation. Also in this episode: Oil futures tell us where fuel prices are headed, convenience stores transcend utility, and a trave
"Running out of that buffer"
The personal savings rate fell to just 2.6% in April — a low not seen since June 2022, according to the Bureau of Economic Analysis. That means Americans have, on average, less cash leftover at the end of the month. Gas and grocery price inflation are partially to blame. Also in this episode: Office real estate looks a little K-shaped, one city tries to relieve budget problems with tradem
Inflation manifestation
Forget hard inflation data. Where do everyday Americans think our economy is headed? Well, one survey says consumers expect prices to rise 4.8% over the next year. And in a way, that might have jinxed us — expectations alone can raise actual prices. It’s the power of manifestation, baby! After that: Farmers face compounding hardships, a GDP revision will show the Iran war's economic impac
Why gas costs more in California than Texas
As President Trump’s war in the Middle East continues, Americans continue to face higher fuel prices. But some have it worse than others. In this episode, we compare the situation at the pump in Texas, heart of the U.S. oil industry, and California, where air quality regulations make gas pricier. Plus: Wholesale clubs attract higher-income shoppers, fast fashion giant Shien acquires eco-c
The cost of SNAP restrictions
Convenience stores face new barriers to accepting SNAP dollars this year. A USDA rule aimed at providing healthier options mean some stores must choose between expanding their perishable offerings — which can be expensive — and accepting SNAP dollars at all. In this episode, we examine SNAP regulations from the perspective of businesses. Plus: Upcoming tech IPOs could shake up your retire
Services stall as manufacturing booms
S&P Global’s flash Purchasing Managers’ Index for May reflects “a tale of two economies.” Input costs increased across industries this month, and while manufacturers could keep up, the services sector faced softening demand. Also in this episode: Birdwatching brings tourist dollars to Northwest Ohio, an independent performance venue in Iowa gets creative to keep the lights on, and we
Why do some companies wait to IPO?
Elon Musk’s SpaceX just filed to go public, and OpenAI is expected to file in the fall. Both businesses have been around for over a decade — what was the hold up? In this episode, we explain the tradeoffs that come with an IPO. Plus: U.S. manufacturers struggle with climbing tungsten prices, Stellantis doubles down on affordable car models, and the authors of “How to Win a Trade War” make
Rising ACA premiums, falling enrollment: It's a vicious cycle
Affordable Care Act premiums are higher this year, after Congress declined to renew subsidies for the health insurance program. As a result, about a million fewer Americans enrolled for 2026 and even more are slated to drop by the year’s end. In this episode, why falling enrollment will raise premiums further. Plus: Bond yields hit record highs around the globe, businesses start to see ta
What happens if the Fed goes mum
The era of frequent public speeches given by Federal Reserve officials on monetary policy may be over. Incoming Fed Chair Kevin Warsh has expressed a desire to reform the central bank’s robust communication style, which has been the norm since the 1990s. In this episode, what do we stand to lose if the Fed zips its lips? Plus: Retailers weigh passing higher costs onto cash-strapped consum
